I’m Neal Frankle, Certified Financial Planner™. Credit problems are a serious business. In fact they changed my entire family life when I was 16. This site is here to help you repair your credit without getting ripped off. Read my story.

Make Significant Side Income With Skills & Resources You Already Have

It’s mind blowing that more people don’t use the common skills and resources they already have to make a significant extra income to get out of debt and/or solve their credit problems.

As you’ll see, this is a very easy mission to accomplish.

By the time you finish reading this (3 minutes from now) you’ll know exactly how to create significant extra income to vanquish your debt and bump up your credit score.

And you’ll understand that you can get this done so much faster than you think it takes right now. It’s exciting. Let’s get to work.

Why You May Need Extra Income to Solve Your Credit Problems

If your bad credit is caused in part by unpaid, past due balances, then the single best strategy you can implement to improve your credit is to pay those balances off – pronto.

FREE credit repair consultation from Lexington Law, the leading firm in the industry by calling: 1-800-293-3672

Let’s face it. It’s likely that those bills became past-due in first place because you didn’t have the money to pay them.

It follows that you need to generate extra income in order to pay them off. Duh.

But that extra income can help in other ways you may not even see right now.

For example, once you pay down credit card balances, you automatically improve your credit utilization ratio. This is the amount of combined credit card debt you owe, divided by your combined available credit limits.

The closer that you can move this ratio down to 30% or less, the more your credit score will improve.

Once that happens, you’ll find it easier to get lower credit card rate & refinance current debt.

You’ll also discover that a lower credit utilization and better credit score will help you get better career offers down the line.

For example, if you owe $2,000 on a credit line, you may be able to get the lender to accept $1,000 in satisfaction of the loan.

But in order to do that, you may need extra income to accumulate the money that will be necessary for the settlement offer.

If you don’t have the income, the creditor doesn’t have any reason to expect you’ll pay off any amount so they may stick to their guns and be less willing to be flexible.

With so much to gain by earning even just a little more every month, the question is, what are the best ways to generate extra income?

1. Get a Side Gig or Second Job

This is probably the most obvious way to generate an extra income. Lots of people don’t like this idea because it involves spending time outside the house.

But remember that this isn’t going to be forever and the time you trade will provide a lifetime of benefits as you solve your credit problems. That sounds like a win-win if you ask me.

I recently did a deep dive into the Uber opportunity and UberEATS opportunity and I personally think this is an unbelievably great fit for people who are looking for a quick solution to their debt and credit score problems.

You can get to work within 10 days from today and start putting money in your pockets. You can read about my insights on Uber here.

You don’t need training or special skills and you make your own hours. BINGO!

And I thought of another genius benefit of driving for Uber – use this gig to find a better full-time gig.

Here’s what I mean. When you drive for Uber you meet a lot of local people every day.

Why not have your resume handy and use your drive time (with a captive audience) to network to find a better job? To me, this is a no-brainer.

It’s like getting paid to look for a better job. Pinch me, I think I’m dreaming.

Here is another idea that might be a better fit for YOU.

Consider becoming a professional proof reader. If you are the kind of person who easily spots mistakes in articles, books and stories, this could be your golden ticket.

There is a low barrier to entry and plenty of demand for highly qualified proof readers.

If you don’t have the writing chops to make this a go, you can easily solve that problem very inexpensively.

2. Let Your Assets Make You Money

Looking for another fantastic way to earn side cash without spending much time doing it?

Consider becoming an Airbnb host. When you sign up to be a host a with Airbnb, your home or apartment goes to work for you.

Yes, you’ll have to screen potential guests and respond to inquiries. And yes, you’ll have to check visitors in and out.

But the cool thing about this idea is that most of the revenue you receive is generated by an asset you already have – your home.

It’s just sitting there anyway. Why not put it to work for you?

Depending on how much spare capacity you have, you can either list a room occasionally or (if the numbers are right) you might even consider listing your entire home or apartment and staying elsewhere when you have paying guests.

Think about it; if your rent is $1500 a month but you can list your place for $150 a night, you only have to book your home out for 10 days a month in order to live rent free. How long would it take to get out of debt if you do this? Probably not long.

If you are really entrepreneurial and/or you have limited space, why not become an Airbnb magnate and manage some of your friends’ listings for them?

Tell your friends about the opportunity but tell them you’ll do all the work for a cut of the action.

This way you don’t have to give up your living space, you have greater inventory to offer, you have the potential to earn a heck of a lot more money and you help your friends put some cash in their pockets too.

Of course, there are some expenses associated with running this business. Most are pretty low but, depending on where you live, you might have a sales and occupancy tax and that will eat into some of your earnings.

And this gig isn’t for everyone. Make sure there are no legal restrictions that prohibit you from doing this. Get the right insurance and make sure your furnishings are appropriate.

To succeed in this endeavor, you’ll have to learn how to filter out inappropriate guests, have a smart pricing schedule and write an appealing blurb to catch the eye of Airbnb clients who are looking for short term lodgings in your area.

You might also need to do some Facebook marketing. But all of this is easy to learn and do.

And if you are looking for a way to put serious dollars in your pocket without spending tons of time doing it, this could be your ticket.

OK. If driving or becoming an Airbnb host isn’t for you, find something else – but turn your down time into dollars with a part-time job and pay down that debt Pilgrim.

3. Take Advantage of Income Opportunities at Your Current Job

You might have opportunities to earn extra income on your current job, that you have overlooked in the past. Obviously you should work any overtime that you can get.

But there may also be various bonuses available that aren’t particularly well known or well used. Learn to negotiate with your boss in order to be compensated for extra efforts.

For example, find out if your employer pays referral bonuses for recommending either new employees, or even new customers or clients.

Some employers pay bonuses for these referrals. That might amount to several hundred dollars.

Once you determine what your employer is willing to pay extra for, make sure you excel in that area. This could do the trick and could work out to be a steady income enhancement.

4. Sell Some Possessions

Most people have a bunch of things in their homes that they either seldom use, or don’t use at all.

Try selling those items on eBay, Craigslist, or even with a garage sale.

If you are like most people I know, you have hundreds of dollars worth of possessions lying around the house that could be turned into cash and used to pay down debt, or to settle a debt or two for less than the amount owed.

5. Pick up Contract Work or Start a Side Business

Starting your own small side business can be more complicated than the other methods described above, but it can also turn into permanent cash flow.

And with many small business opportunities, you can get started with no or very little cash and be up and running within a month or two.

That will not only help you solve your current credit and debt problems. It will also give you the cash you need to help avoid getting into a debt/credit fix again in the future.

Start by doing an inventory of the various skills that you have. This should include skills that you use both on the job and off.

Here’s a detailed step-by-step guide to help you find the right business and become open for business fast.

You don’t have to be a certified expert in a field to make money at it. As long as you are good, trustworthy and responsible, you will find people who will pay you to do such work. Guaranteed.

The beauty is that once you get it going, and start getting some referrals, you will be in business for the long haul and that sweet cash will continue to roll your way.

That can help solve a lot more than your credit problems.

If Extra Income Won’t Help Fix Your Credit Problems

There are times when credit problems are so severe that no matter what you do on your own, it won’t be enough. If that describes your situation, then your best strategy is to get professional help.

You can try to fix your credit yourself but often a competent credit law firm will be your best option. Often, they can help you fix your credit problems in the shortest amount of time possible, and with the least amount of discomfort.

For the absolute best approach, combine that professional help with your own efforts to generate extra income.

When you do that, the whole process works even better. The more money you have available to settle debts, the easier it will be even for a law firm to solve your credit problems.

Make This Count

I know absolutely that some of the ideas I presented above can change your life and/or the lives of people you love and care about.

The thing is, you never know who needs this or how it might strike them. Ideas impact different people differently at different times. Right?

Please – if there is someone who you think needs this information – share it with them right now.

If you are concerned that they might take offense, just tell them you read it and wanted to know if someone they know could use the information on how to improve their financial situation really fast.

When you share this, you are opening a door for a lot of people and it’s a very good deed.

Regardless of what these people do with the information, you are providing an opportunity for people you care about to take back control of their future. I can’t think of a better gift than that. Can you?

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